75ac of good Westmeath forestry could be just the job with a ?3,000/ac asking price

Jim O'Brien

Jim O'Brien

Pardon the pun, but forestry as an investment is a slow burner. What it lacks in speed, it makes up for in steadiness of return and is a surer investment than most commercial pursuits that depend on the vagaries of nature.

Anyone with an interest in the business would be advised to take a second look at 75ac of well-managed forestry which has come on the market in Co Westmeath at a guide price of €3,000/ac. The timber in both cases has another two to three years remaining.

The larger parcel, a 50ac site with 48ac of timber that includes Norway spruce, Sitka spruce and Lodgepole pine, is located at Killynan, Mullingar, just off the N52 with direct road access.

Situated six miles from Delvin and seven miles from Mullingar, the property is described by auctioneer Thomas Potterton as a superb block of well-managed forestry.

Planted 18 years ago, the plantation has two years of premiums left amounting to a net payment of €8,258 per annum.

The timber is currently due for thinning, a process for which grant aid is available, with the product bringing in a tidy sum.

The smaller plantation at Lynn, Mullingar, extends to 25ac and will be auctioned on the same day. This parcel, made up of mature pine and Norway spruce, is located 2.5 miles from Mullingar with easy road and roadway access.

It is bounded by the River Brosna and close to the canal and Lough Ennell.

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The parcel was planted in 1996-97 and has three years' premiums left at €4,203 per annum.

Thomas Potterton expects interest to come from investors, sawmills, forestry companies and farmers with forestry interests.

Both properties will be sold at auction at the Property Exchange, Trim, at 3pm on Wednesday May 28.

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